New York City's Series D GO Bonds Assigned 'AA' Rating

NEW YORK (S&P Global Ratings) Feb. 27, 2020--S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $1.3 billion fiscal 2020 series D general obligation (GO) bonds, consisting of $800 million tax-exempt fiscal 2020 series D-1, $323.7 million taxable series D-2, and $176.3 million taxable series D-3. At the same time, we assigned our 'AA' long-term rating to New York City's fiscal 2020 series 1 GO bonds that will convert the fiscal 2004 series A and subseries A-4 and A-5 adjustable-rate bonds to fixed-rate mode on March 24, 2020. The outlook is stable. Proceeds from the fiscal 2020 series D bonds will be used to fund capital projects throughout the city. "The rating reflects our view of

...February 27, 2020 NEW YORK (S&P Global Ratings) Feb. 27, 2020--S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $1.3 billion fiscal 2020 series D general obligation (GO) bonds, consisting of $800 million tax-exempt fiscal 2020 series D-1, $323.7 million taxable series D-2, and $176.3 million taxable series D-3. At the same time, we assigned our '##' long-term rating to New York City's fiscal 2020 series 1 GO bonds that will convert the fiscal 2004 series A and subseries A-4 and A-5 adjustable-rate bonds to fixed-rate mode on March 24, 2020. The outlook is stable. Proceeds from the fiscal 2020 series D bonds will be used to fund capital projects throughout the city. "The rating reflects our view of such factors as New York City's strong economy, budgetary performance, and budgetary flexibility, and its very strong management and liquidity," said S&P Global Ratings credit analyst Nora Wittstruck. The stable outlook reflects what we view as New York City's...

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